The investment of an asset into a partnership should be recorded at the higher value of the asset's original cost or the asset's fair value.

Name: The investment of an asset into a partnership should be recorded at the higher value of the asset's original cost or the asset's fair value.
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The investment of an asset into a partnership should be recorded at its fair value at the time of contribution, not the higher of its original cost or fair value.

The Investment of an Asset into a Partnership Should Be